2024-2033 Automated Nucleic Acid Extraction Devices Market: Key Insights on Growth Opportunities
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What is the Expected Growth Trajectory for the Automated Nucleic Acid Extraction Devices Market by 2033?
The market for automated nucleic acid extraction devices has experienced swift expansion in the past few years. A surge from $5.41 billion in 2023 to $6.09 billion in 2024 is expected, displaying a compound annual growth rate (CAGR) of 12.5%. The escalation witnessed over the historic period is due to the rising demand for molecular diagnostics, increased recognition of automation benefits, growth in the pharmaceutical and biotech sectors, governmental measures endorsing molecular diagnostics, and the escalating demand for molecular diagnostics.
In the coming years, the market size for automated nucleic acid extraction devices is projected to experience rapid expansion. The market is expected to increase to a value of $9.96 billion in 2028, reflecting a compound annual growth rate (CAGR) of 13.1%. The growth during this predictive period is credited to a rise in the demand for personalized medicine, growing need for automation, heightened focus on precision medicine, surge in requirements for point-of-care testing, and integration with next-generation sequencing. The upcoming period foresees trends such as technological advancements, increasing demand for molecular diagnostics, miniaturization of automated systems, point-of-care testing, as well as the involvement of artificial intelligence (AI) and data analytics.
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What Factors Are Leading to Growth in the automated nucleic acid extraction devices Market?
The surge in research and development endeavors is anticipated to fuel the advancement of the automated nucleic acid extraction devices market. These activities, undertaken by organizations to research and accumulate market data before the initiation of the development process, serve to design and launch new products and services in the market and enhance the organization’s profit margins. Automated nucleic acid extraction devices play a critical role in research and development undertakings, aiding in clinical diagnostics, biological examinations, and environmental monitoring, thereby amplifying corporate efforts to devise novel solutions. For example, in July 2022, the World Health Organization (WHO), a specialized health entity of the United Nations based in Switzerland, noted that, owing to elevated investments made by nations during the COVID-19 pandemic, the proportion of countries capable of executing genomic surveillance escalated from 54% to 68% between March 2021 and January 2022. Consequently, the escalating volume of research and development undertakings is providing a significant thrust to the growth of the automated nucleic acid extraction devices market.
Which Segments Play a Key Role in Understanding the Automated Nucleic Acid Extraction Devices Market?
1) By Type: Instruments, Kits, Consumables
2) By Product: Fully Automated, Semi-Automated
3) By End User: Hospitals, Diagnostic Centers, Forensic Laboratories, Pharmaceutical and Biotechnology Companies, Academic Research Institutes
What Trends Are Emerging as Game-Changers in the Automated Nucleic Acid Extraction Devices Market?
In the automated nucleic acid extraction devices market, product innovation is emerging as a crucial trend. Leading companies in the market are introducing cutting-edge products to consolidate their market standing. For example, Aurora Biomed, an automated medical equipment producer based in Canada, launched the VERSA NAP Automated DNA Extraction Systems (also referred to as the automated nucleic acid extraction system) in August 2022. This system mechanizes the DNA and RNA extractions and associated purification protocols, capable of concurrently processing 1-96 samples. With its unique plate grippers and transporters, the system can isolate clean, superior-quality DNA or RNA, ensuring excellent nucleic acid results.
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Which Regions Are Setting the Pace for Automated Nucleic Acid Extraction Devices Market Growth?
North America was the largest region in the automated nucleic acid extraction devices market in 2023. The regions covered in the automated nucleic acid extraction devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Automated Nucleic Acid Extraction Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the automated nucleic acid extraction devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Automated Nucleic Acid Extraction Devices Market Include
1. Automated Nucleic Acid Extraction Devices Market Executive Summary
2. Automated Nucleic Acid Extraction Devices Market Segments
3. Automated Nucleic Acid Extraction Devices Market Size And Template Market Growth Rate
4. Key Automated Nucleic Acid Extraction Devices Market Trends
5. Major Automated Nucleic Acid Extraction Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Automated Nucleic Acid Extraction Devices Market
26. Top Automated Nucleic Acid Extraction Devices Companies
27. Automated Nucleic Acid Extraction Devices Market Opportunities And Strategies
28. Automated Nucleic Acid Extraction Devices Market, Conclusions And Recommendations
29. Appendix
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